Stocks Edge Higher After Fed Trims Bond Purchases

by Wochit
0:38 mins

Stocks Edge Higher After Fed Trims Bond Purchases

by Wochit
0:38 mins

U.S. stocks are rising for the fourth day in a row. Major indexes shifted higher following the Federal Reserve's latest policy announcement. The central bank said it would cut another $10 billion from its monthly bond purchases, citing an improving U.S. job market. The Standard & Poor's 500 rose 10 points, or 0.5 percent, to 1,952 as of 3:34 p.m. Eastern Time. That's one point above its previous record high.